2023/24 Legislative Session, the HIP’s accomplishments

Mar 8, 2024 | News

State Revolving Loan Fund
The Fund aims to subsidize the production of housing for Oregon’s workforce that would not otherwise be financially feasible. Local jurisdictions, at their discretion and in conjunction with OHCS, may access the fund to boost development of needed housing in their communities. Eligible housing can be rental or homeownership, single or multifamily.

The Oregon Legislature has approved a $75 million allocation to establish a Revolving Loan Fund in SB 1537 for moderate income/workforce housing, an innovative idea spurred and developed by the Housing Innovation Partnership (HIP). 
A huge thank you to Representative Pam Marsh for her leadership on this bill, and to our team of HIP experts who worked so diligently over the past year to flesh out the details of this concept. 

Modular Factory Funding

Set aside in the Governor’s Emergency Homelessness Response Package was a fund developed by HIP members to provide $20 million in grants or loans to entities to begin or expand production capacity for the development of modular housing and components. This is hopefully just one of many steps to be taken in the direction of employing innovative construction methods to increase housing production in our state.

 

Affordable Housing Loan Guarantee Fund

$20 million has been appropriated to the Housing and Community Services Department to provide grants to one or more nonprofit corporations to develop a fund used to guarantee the repayment of loans to finance the construction of housing for low or moderate income households. This fund will incentivize private capital to support these projects at beneficial borrowing costs.

 

Local Government Capacity

$5 million is going to DAS, in consultation with DLCD and OHCS, to provide grants to councils of government and economic development districts to support housing and community development capacity within cities and counties and within the nine federally recognized Indian tribes in this state. These funds will be used towards bridging information gaps, identifying and securing needed resources including infrastructure and community facilities. connecting producers of needed housing with consumers of needed housing, and working with representatives of historically underrepresented groups to overcome community-specific barriers to obtaining housing.

 

Funding for Project Turnkey
In SB 1530, $65 million is allocated for the operations, services, and administration of emergency shelters, including Project Turnkey sites and navigation centers.
We are glad to see the continued support for Project Turnkey, an initiative which, to date, has increased Oregon’s year-round shelter capacity by 30%. 
Funding for the City of Sutherlin

Recently, the Oregon iSector has been working with the City of Sutherlin, assisting them with convening community stakeholders to plan for development of a small village with mixed housing types serving a range of income types. The City is in the process of purchasing a 10-acre property central to downtown to house this development.

From SB 1530, $2.8 million is allocated for water, sewer, and storm water improvements for the proposed Oak Terrace Village Housing Development.
Congratulations, Sutherlin!